Gold

Goldman admits it was wrong, but still remains indirectly short as it is still hoping to skewer even more muppets on the very same trade it has gotten wrong for the past 3 months... and in the process buy their gold if possible.

Investors around the world are blissfully ignorant of what will hit them in coming months and years. Virtually no one understands the risks in the world and less than ½% of investors have protected themselves against the destruction of their financial assets.

Today in this negative interest rate environment you should be more concerned about the return of your money, than the return on your money.

The downturn will soon start to accelerate and eventually lead to a total failure of the financial system and sovereign defaults

China, the world’s largest gold consumer, launched on Tuesday a gold benchmark denominated in Yuan and plans to exert a stronger influence in the global market by better controlling the prices. It will also serve to increase the international credibility of its currency.

The “liberation” of the precious metals spot prices is taking hold day after day

As the dollar fall accelerates, together with other currencies, it will only be a matter of time before investor’s money will be blocked by the bank.

Deutsche Bank has also reached a settlement in US litigation alleging the bank conspired to fix gold prices. In other words, hours after admitting it was rigging the silver market, it did the same for gold.

The CME curiously reported that it received notice from the Federal Reserve that it is authorized to open an account at the Fed which would “allow it to better safeguard cash deposited by its traders”

In a world of manipulated economic figures and markets, it is not always easy to maintain your sanity. The world economy is now based on fantasy and hope and has very little to do with reality. But the problem is that virtually nobody understands this. Whether it is a bank analyst or a Nobel Priz...